9,000 Minnesotans getting health insurance rebate checks - KMSP-TV

9,000 Minnesotans getting health insurance rebate checks

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ST. PAUL, Minn. (KMSP) -

More than 9,000 Minnesotans will receive a rebate check as part of a health insurance rebate required under the new federal health care law.

The checks, sent out Monday, average $300.

Under the Affordable Care Act, insurance companies that don't spend at least 80 percent of revenues on actual health care, and more than 20 percent on administrative costs, must pay back the difference to customers or employers who contribute to premiums.

The rule was pushed by Sen. Al Franken, who said Minnesota's HMO non-profits should be a model for the nation.

The roughly 9,000 rebate checks are a fraction of the 123,172 rebates sent out last year. Franken said the reduction shows how health insurance companies are doing a better job of controlling administrative costs.

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